Zacks Investment Research upgraded shares of KushCo (OTCMKTS:KSHB) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.75 price objective on the stock.
According to Zacks, “KushCo Holdings Inc. is the parent company to a diverse group of business units primarily in the cannabis, CBD and other related industries. KushCo Holdings’ subsidiaries provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving customer base. The company’s brands include Kush Bottles, a sales platform distributor of packaging, supplies, and accessories. Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector. Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions. KushCo Holdings Inc., formerly known as Kush Bottles Inc., is headquartered in Garden Grove, California. “
A number of other equities analysts also recently issued reports on the stock. Northland Securities set a $9.00 price target on shares of KushCo and gave the company a buy rating in a report on Friday, April 12th. Compass Point initiated coverage on shares of Randsburg International Gold in a report on Monday, June 10th. They set a buy rating for the company. Roth Capital initiated coverage on shares of KushCo in a report on Thursday, June 6th. They set a buy rating and a $8.00 target price for the company. Benchmark initiated coverage on shares of KushCo in a report on Wednesday, June 26th. They set a buy rating and a $7.00 target price for the company. Finally, Alliance Global Partners set a C$75.00 target price on shares of Canopy Growth and gave the company a buy rating in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $7.91.
Shares of KSHB traded down $0.01 during trading hours on Wednesday, reaching $5.07. The company had a trading volume of 304,937 shares, compared to its average volume of 722,099. The firm has a 50 day moving average of $4.67. The stock has a market capitalization of $450.42 million, a P/E ratio of -31.69 and a beta of 1.71. KushCo has a 12-month low of $3.76 and a 12-month high of $7.20.
KushCo (OTCMKTS:KSHB) last announced its quarterly earnings results on Tuesday, July 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The business had revenue of $41.50 million during the quarter, compared to the consensus estimate of $40.42 million. KushCo had a negative net margin of 21.18% and a negative return on equity of 22.72%. The business’s revenue was up 221.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. As a group, analysts anticipate that KushCo will post -0.45 EPS for the current year.
In other news, Chairman Nicholas Kovacevich sold 200,000 shares of KushCo stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $5.64, for a total transaction of $1,128,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 29.50% of the company’s stock.
KushCo Holdings, Inc primarily engages in the wholesale distribution of packaging supplies in the United States, Canada, Europe, and internationally. The company offers pop-top bottles; child resistant exit, paper exit, and foil barrier bags; tubes; and polystyrene, silicone-lined polystyrene or glass containers.
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